Macro

Tony is best known for the practical application of macro data.  He will use his 30 years of experience to evaluate what data matters and how you can apply it to your investment process.

Mini daddy snap

The environment appears to be set up for a “daddy snap.” In my house this refers to when I would come home from a perfectly good day exhausted but happy…

Read More

Pardon the interruption…

The S&P 500 (SPX) is up 23% for the year and 3.7% for the current quarter, which we believe discounts a less-negative economic and EPS view as we enter the…

Read More

Four tactical indicators update

The S&P 500 Index (SPX) moved higher for the fifth consecutive week and set a new closing high on Friday. This moved most of our tactical indicators further into overbought…

Read More

Human nature is pretty consistent

Finally, there was a new record high in the S&P 500 (SPX) yesterday led by the offensive sectors and matched by some pretty good market internals. It is hard to…

Read More

Very brief EPS season update

As we entered 2019, our bullish thesis was largely based on an economic slowdown that would cause the Fed to shift gears toward a much more accommodative monetary policy as…

Read More

Yield curve mythbuster — part 2

Last week saw both the equity and fixed income markets stay in a narrow trading range,  which was a very welcome sign of stability given the potential dislocating news backdrop…

Read More